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One Million couples still eligible for tax boost

HMRC has highlighted that three million UK couples have already taken an advantage of Marriage Allowance but a million more are still eligible for the tax break. The Marriage Allowance allows certain couples, where neither pay tax at more than the basic rate, to transfer 10% of their unused personal allowance to their spouse or civil partner, reducing their tax bill by up to £238 a year in 2018/19.  The allowance was introduced in 2015 and it is possible to backdate the claim to earlier tax years. Please contact us if you would like to...

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Corporation Tax - Update

Corporation tax rates are as follows: Financial year from 1 April 2018 1 April 2019 1 April 2020 Corporation tax rate 19% 19% 17%         Annual Investment Allowance (AIA) The AIA will be temporarily increased from £200,000 to £1m. This change will have an effect in relation to qualifying expenditure incurred from 1 January 2019 to 31 December 2020. Capital allowances – special rate pool The rate of writing down allowance on the special rate pool of plant and machinery will be...

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EOT, successional planning, exit strategy, EOB

Looking to sell your business – or planning for its succession?

This week, the largest gathering of employee owned businesses in the UK will head for the flagship conference held by the Employee Ownership Association, now in its 13thyear. So is employee ownership the right next move to keep your business successful if you’re thinking of planning for its (and your) future? An increasing number of business owners and founders seem to think so. The sector has been growing annually at a rate of 10%, with employee ownership now contributing approximately 4% of GDP annually to the UK economy, representing...

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Rothmans Budget seminar

Local businesses get insight into the impact of the last Budget before Brexit

Local businesses from all over the South have been given an insight into the impact of changes announced in the final pre-Brexit Budget at a free seminar held by Rothmans, one of the largest chartered accountancy firms in the region. The guest speaker for the event was tax expert, Giles Mooney, who is renowned on the speaking circuit for being both entertaining and highly informative. The packed audience of delegates was also given the opportunity to ask questions and network following the presentation.   Budget in Brief Major poin...

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National Insurance

Autumn Budget Report 2018

This Report, which was written immediately after the Chancellor of the Exchequer delivered his Budget Speech, is intended to provide an overview of the latest announcements and recent measures most likely to affect you or your business.  With the UK set to leave the European Union in March 2019, Chancellor Phillip Hammond announced an early Autumn Budget, in a bid to avoid a clash with the final stages of Brexit negotiations. Throughout this guide we have included tips and ideas to assist you with effective tax and financial planning. We...

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What will the last budget before Brexit mean for your business?

Rothmans, one of the South of England’s longest-established and largest Chartered Accountancy practices, is to host a free Budget Seminar for businesses on 1stNovember following the Chancellor’s Budget speech on Monday 29thOctober. Guest speaker at the seminar being held at the Ageas Bowl, Southampton, will be Giles Mooney, a Chartered Accountant and Chartered Tax Advisor who has been involved in UK tax training for many years.  Giles’ seminars are renowned for being both highly informative and entertaining. He also presents acros...

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